May 21, 2014 6:58 PM

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China signs $400 bn gas deal with Russia

China today signed a whopping 400 billion US dollar gas deal with Russia, ending decade-long negotiations as the world's second largest economy tries to reduce its reliance on coal due to heavy pollution.The gas deal was inked in Shanghai during the current visit of Russian President Vladimir Putin to attend the Conference on Interaction and Confidence Building Measures in Asia.Russia has vast energy reserves and China is constantly seeking resources to power the growth of its economy.

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